Commercial - Retail for Sale in Johannesburg Central

Description

Accepting Offers. DESCRIPTION: The property is located in the heart of Johannesburg and offers you a A Grade tenant that has been there for years and will be there for years to come. Foschini Retail store has had the market share for years as you can see by the black & white photo in the photos of the property and is one of the busiest shops in the area. • Offices • Retail space • GLA - 6305m² • Storage area • Toilets • Escalation 5% • Cap Rate - 5.5% at 41% occupancy INCOME: • Net rental - R3 282 818.00 • Rates & taxes recovered - R51 074.00 • Total Gross Rental - R6 669 948.00 • Insurance - R265 649.00 • Property management fees - R108 135.00 • Contractual expenses - R260 323.00 • Rate & taxes expenses - R1 329 229.00 • Repairs & maintenance - R130 200.00 • Total net expenses - R2 093 537.00 • Total NPI 4 576 410.00 P.S. Not quite right? Not a problem. I have plenty of private stock that might work for you - Call me to learn more. DETAILS: • Erf No: 5283, Johannesburg • Erf Size: 1 730m² DISCLAIMER: The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to bidding.